Brenton State Bank of Jefferson v. Tiffany

I concur in division II of the majority opinion but must depart from division I and what I believe to be my colleagues’ misinterpretation of the operation and effect of the in rem default judgment obtained by Brenton Bank.

The majority relies on cases and authority establishing that an in rem judgment “is not sufficient to extinguish the entire indebtedness.” Strand v. Halverson, 220 Iowa 1276, 1277, 264 N.W.266, 267 (1935) (quoting 34 C.J.S. Judgments § 1183, at 768 (1924)); see also Riverview State Bank v. Dreyer, 188 Kan. 270, 273, 362 P.2d 55, 57-58 (1961); Epperson v. Halliburton Co., 434…